Question: Blossom Construction entered into a contract to construct a bridge for a contract price of $2.40 million. Construction began in 2022 and was completed in

Blossom Construction entered into a contract to construct a bridge for

Blossom Construction entered into a contract to construct a bridge for a contract price of $2.40 million. Construction began in 2022 and was completed in 2024 . Below are the details of the transactions related to the contract: Calculate the revenue, expenses and gross profit to be recognized each year using the percentage-of-completion method. (Round the percentage completion to 2 decimal places, e.g. 52.75% and other answers to 0 decimal places, e.g. 1,525.)

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